Latest / Mortgage Marketing Radio / How to Generate Quality Leads with Facebook Ads

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How to Generate Quality Leads with Facebook Ads · Mortgage Marketing Radio

• 0:00
  In today's highly competitive mortgage industry, building profitable relationships with
• 0:04
  the real estate agents is essential for success.
• 0:06
  However, finding effective ways to secure agent relationships can be a challenge.
• 0:11
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• 0:15
  can be difficult to stand out and establish meaningful connections.
• 0:20
  Our new case study featuring loan officer Chris Cogill is a must-read.
• 0:25
  Chris has closed a remarkable 36 million in funded loans from agent referrals.
• 0:31
  And in this case study, he shares his proven strategies for building strong relationships
• 0:34
  with real estate agents and leveraging those relationships to drive more business.
• 0:39
  To get your hands on this resource, head over to LOKestudy.com and download your free copy
• 0:45
  of the case study today.
• 0:47
  You'll find actionable insights and practical tips that Chris used to close 36 million
• 0:52
  in funded loans from agent referrals and how you can, too.
• 0:56
  Don't miss out.
• 0:57
  Go check it out right now, visit LOKestudy.com and download your free copy today.
• 1:03
  Hey, what's up, everybody?
• 1:04
  This is Jeff Zimfer host of Mortgage Marketing Live.
• 1:07
  So excited you're tuning in here today, wherever you're watching from, please take a moment
• 1:11
  and comment and say hello because we're going to get started with our special guest in
• 1:15
  just a moment.
• 1:16
  It's mortgage marketing live bringing you the truth and what's working for mortgage marketing.
• 1:19
  Every single week, we're going to get started in just a minute.
• 1:26
  Hey, hey, here we are back live.
• 1:30
  I'm your host Jeff Zimfer and we have with us my good friend of gosh, how many years now
• 1:35
  Scotch and welcome.
• 1:36
  It's been a long time.
• 1:37
  Yeah, welcome to the show.
• 1:38
  By the way, the audience, they're so glad you decided to show up.
• 1:44
  They approved.
• 1:45
  They approved.
• 1:46
  That's good.
• 1:47
  You're on our approved list.
• 1:49
  So listen, man, I know you're incredibly busy.
• 1:51
  You're running a mortgage brokerage.
• 1:54
  You're a marketing person extraordinaire and you've made time for us to share some of what
• 1:59
  you've been learning about running this Facebook test lately.
• 2:03
  So for those of you who don't know who you are, why don't you give them the quick background,
• 2:06
  who Scotch and what's y'all about?
• 2:09
  Yeah, I've been a mortgage industry for 20 years now.
• 2:14
  I was a mortgage broker for a while, went over to direct lending with small local brokerage
• 2:20
  after the crash in 2008, went back to brokering in 2015.
• 2:27
  Really everything that I'm going to show you here today, I don't know about broker extraordinaire.
• 2:32
  I love trying to break stuff and then I love trying to fix it.
• 2:35
  So I'm very analytical.
• 2:38
  In my mortgage practice, I've always been an educator and I always like to educate
• 2:42
  I'm not a great salesperson.
• 2:44
  So what I'm going to show you today was actually our, it was my solution to start building
• 2:51
  referral partnerships because we were doing consumer direct for many, many years.
• 2:56
  I'm not a donuts and coffee kind of guy.
• 2:59
  I don't like to initiate conversations, you know, those are my character flaws, but they
• 3:04
  prevent me from getting into big rooms of people and glad handing and back padding and all
• 3:09
  that stuff.
• 3:10
  So what we did is we created this system, a process so that we could show that really
• 3:19
  to help agents generate more buyers and to, and this is really about database marketing.
• 3:25
  And yes, you can go out and you can doork, but with all of the incredible technologies
• 3:29
  today, once you, once you're out there, what are you talking to people about?
• 3:35
  Is there a way to get them into a database so that you can keep touching them?
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  You can stay in front of them because consumer direct leads are really, really misunderstood,
• 3:45
  especially buyer leads.
• 3:47
  There's a very long timeline on those.
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  Most consumer direct leads are going to be ready to buy in 4 to 18 months.
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  And so all you can really look at is, am I able to capture those leads and put them in
• 4:02
  my database at a reasonable cost?
• 4:05
  Do I have mechanisms set up so that I'm staying in front of them so that I can not only
• 4:11
  capture the people that are ready now, but I can stay in front of the people that aren't
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  ready.
• 4:16
  So it's not, these aren't, these aren't deals you close today.
• 4:20
  These are deals you close six months from now.
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  So when you're thinking about building your database and database marketing and all the
• 4:27
  incredible tools we have at our disposal right now, it's a good idea to keep filling
• 4:33
  that database and keep working that database of consumers because ultimately they make
• 4:38
  the decision, right?
• 4:40
  We as consumers, we don't get tricked into stuff, you know, we don't, and buying a home
• 4:45
  isn't an impulse buy.
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  So when you're working at database, you're building trust over time.
• 4:51
  And then when the consumer is ready, hopefully you've done a good enough job that they raise
• 4:55
  their hand and they say here.
• 4:59
  The one thing that I do want to say because people always ask me this, how the hell do you
• 5:04
  do all this stuff?
• 5:05
  I have a business partner.
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  So we specifically structured our business so that Josh Lewis manages operations and
• 5:13
  all the loans.
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  And I mostly focus on this stuff on the creating the marketing, creating the marketing materials
• 5:20
  and going out there and doing webinars and things like that.
• 5:24
  I'm kind of the rain maker, he's kind of the bucket and that's why this works.
• 5:28
  Awesome.
• 5:29
  Yeah.
• 5:30
  So it's a good partnership there, feeling very, both of those roles are very, very important.
• 5:35
  Mm-hmm.
• 5:36
  Okay, cool.
• 5:37
  So let's dig into it a little bit.
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  And before I do, I want to give a quick shout out, virtual high five.
• 5:43
  To Mike Copeland, Ben Lavender, Shannon Young, welcome.
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  As you guys know, if you've got questions for us as we go through this, put your questions
• 5:50
  in the comments wherever you're watching this.
• 5:52
  And hey, if you're on YouTube, hey, let us know you're watching on YouTube also.
• 5:55
  We'd love to know our YouTube family is growing over there.
• 5:58
  All right.
• 5:59
  So let's talk about, let's set this up.
• 6:00
  You decided to go public with this recent test you did on Facebook and running ads.
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  So do you want me to show the first ad, do you want me to bring that up and we can talk
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  through it?
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  I do want to set it up first.
• 6:13
  Yeah, let me kind of set it up first.
• 6:16
  So specifically, what we're doing is we're going out and we're doing lunch and learns,
• 6:23
  which you are the godfather of lunch and learns and so we're doing, we were doing lunch
• 6:31
  and learns on Facebook marketing master class, which was basically just doing a complete
• 6:36
  breakdown of the ads we were doing and these were for agents.
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  Then we started doing one for home bot and teaching agents how to use home bot to grow
• 6:45
  their business.
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  So within those, those are both tools that all fit into one system and it was a lead generation
• 6:53
  system that we basically offered to be the marketing partner for realtors that wanted
• 6:58
  to join with us.
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  We called it the rising tide theory lifts all boats.
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  So if we can be your external marketing arm and so I would do this presentation, I would
• 7:08
  do the lunch and learn in exactly the same way I'm going to do today, actually to a much
• 7:13
  lesser degree.
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  We lift the kimono.
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  I mean, I'll tell you everything that we're doing, I'll show you exactly how we're doing
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  it.
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  99.9% of people will say, cool, can you do it for me?
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  And so that's the strategy.
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  So what I'm going to show you today is really just the, it's the entire process, it's all
• 7:36
  of the tools, it's all of the pieces, it's all of the messaging and all of the follow-up.
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  We are running these ads on behalf of an agent out of our business manager.
• 7:48
  So we're creating the ad, we're monitoring the ad, we're measuring and modifying the
• 7:52
  ads to make them work because they don't always work.
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  Just for a lot of different reasons and then we're connecting them so that they're pushing
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  into all of these other contact conversion and nurture systems automatically.
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  So in a perfect world, all the agent has to do is answer the hot transfer from verse
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  or they have to answer their email that somebody is interested in doing something.
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  So what we've tried to do is we've tried to completely eliminate the lead follow-up piece
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  for agents and we've tried to simplify the lead follow-up piece on our side so that we
• 8:31
  can scale.
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  So.
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  Okay, real quick, let me just point out for those listening.
• 8:35
  You mentioned a company called verse, verse.io, formerly known as agentology, I believe.
• 8:40
  Agentology, correct.
• 8:41
  Correct.
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  Yes, that's our PSA.
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  Is that your verse.io account or your agents?
• 8:47
  No, this is mine and I set up the agents as seats under my account.
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  So when verse is reaching out to them, they're calling from the agent's office.
• 8:58
  Okay.
• 8:59
  And just to clarify for those listening, it is, it's basically like you said, it's an
• 9:01
  ISA, it's an independent, what do you call it, sales agent, what is it?
• 9:04
  Yeah, inside sales agent is usually what it is, but really it's a human being in San Diego
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  24-7.
• 9:12
  Right.
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  And so the point of this, and we're going to show the dashboard in a minute, but the point
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  is, like, you know, here's the one thing most people drop the ball with the Facebook leads
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  is you need somehow to follow up with them, verse.io, is this company that will call and
• 9:25
  you've got some stats on this, will call these people like right out of the gate super
• 9:29
  fast beyond them and try and convert them, right?
• 9:32
  So yeah, let me finish setting this up.
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  So this entire thing started with one of the agents that we were running ads for.
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  We switched them from, we switched them from an ad format that collected very little contact
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  data to a format that collects a tremendous amount of contact data.
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  So this agent's response to that was, I don't think this is working because there's too
• 9:55
  many of these leads that aren't in my range that I want to work.
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  So what I said was, okay, fine, I'm not going to, you can't convince somebody that the
• 10:07
  lead quality is there.
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  And to be able to explain why the only reason you think the lead quality isn't there is
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  because you have all these data points, you have all this data on every single lead.
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  And there was always a percentage of those leads that were not going to be any good.
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  A solid half of all leads never going to talk to, right?
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  That's just pretty typical.
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  And so that's what this was.
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  So this project was, I spent the weekend, built a bunch of spreadsheets, downloaded all
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  the leads, analyzed all the leads.
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  And quite frankly, I was shocked.
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  I was shocked that the quality was way better than I thought they were.
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  And so I posted it on Facebook and I just started the conversation of, hey, listen, these
• 10:51
  tools work.
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  I'm not doing anything special.
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  I'm just putting these tools together and I'm putting these things out.
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  So we can go ahead and show exactly what I'm doing.
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  Okay, cool.
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  Let's swap views here.
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  Let me attempt to bring up this screen.
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  We're going to share the ad examples, the Facebook stuff here.
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  There we go.
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  Let me go into presentation mode.
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  And let's, all right.
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  Let's cool.
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  We can keep us on there for now.
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  We can go full screen.
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  All right.
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  Yeah.
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  So these are the two ads that we're primarily running.
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  The one on the left is more of a long term.
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  We'll run that for 30 days.
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  Typical spend on something like this is about $400.
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  We try to do between $15 and $20 a day.
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  Any less than that and Facebook's algorithm does not have what it needs to learn, to learn
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  how to present your ads to the right people.
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  If you're doing Facebook ads and you're spending a dollar a day or $5 a day, it takes
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  a really long time.
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  So your lead quality is, it's going to take a long time for Facebook to show it to the
• 12:00
  right people.
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  On the right hand side is a just listed open house type of ad.
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  So these are single property ads were for the most part we're copying and pasting the
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  MLS description.
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  The overwhelming majority of it will be under the fold.
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  So it'll just say show more, but we pack the emojis on the top that you see there.
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  And I didn't post this, but anybody looking for every single emoji in the world, emoji
• 12:33
  pdia is free and you just type in the topic and you'll find all kinds of emojis.
• 12:40
  So Facebook changed their marketing last year.
• 12:45
  They removed a lot of interest targeting and they made it a lot more difficult for housing.
• 12:52
  And it was really kind of a, it was well, people were targeting specific zip codes and
• 12:59
  age ranges and sex and things like that.
• 13:02
  And that's obviously not legal in the housing space.
• 13:06
  So what I've listed here is a list of the targeting that we use.
• 13:11
  We don't use every single one on every single ad, but we will swap them in and out.
• 13:19
  We've got some, you see there's some renter things in there.
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  People that are going to Trulia or that like Trulia or Zillow.
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  Those are typically people that are searching for houses.
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  The home insurance was one that we threw in there that I thought worked pretty well.
• 13:35
  The listing service was one that I hadn't seen people using, but we ended up throwing in
• 13:40
  there.
• 13:41
  Yeah.
• 13:42
  And by the way, real quick, just in case anybody missed that to Scott's point in terms
• 13:45
  of Facebook changing the targeting options, a lot of people have that headline like, you
• 13:49
  know, hey, if you can't target well on Facebook anymore, well, not true to prove that point.
• 13:55
  These are what you're showing right here is interest based targeting still available on
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  Facebook.
• 14:00
  So those are indicators of interest in buying or selling a home.
• 14:06
  Absolutely.
• 14:07
  Absolutely.
• 14:08
  And I try to get tricky with the renters insurance and renting and apartments.com and things
• 14:15
  like that to try to get in front of people early because this ad on the left hand side
• 14:21
  is really just a stop paying your landlord, pay yourself kind of thing.
• 14:26
  So the ad cost, the actual cost per lead that comes out, it varies widely, it varies
• 14:37
  widely by area, by state.
• 14:41
  I typically, when I'm talking to, when I'm talking to realtors and I'm giving, I'm trying
• 14:44
  to set expectations for what they can see, what they're going to see for their spend because
• 14:49
  that was the other part of this is, this is the agent spend.
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  So if the agent spending, if I say $400, they give me, they send me $400, all $400 of
• 15:00
  that goes towards this ad spend and I'll kind of explain how we deal with the respo thing
• 15:04
  in a second.
• 15:06
  But I usually tell them you can expect leads to be $12 or less.
• 15:11
  It's not unusual at all to get leads under $4.
• 15:15
  In the numbers that I'm going to show you, our average lead cost over almost 350 leads
• 15:21
  was just under $7.
• 15:24
  And then what I started doing differently is you'll see on the bottom of the ad where
• 15:29
  it says learn more.
• 15:31
  And that's a great call to action when you're doing these types of ads, learn more, it's
• 15:37
  a really high click through rate.
• 15:39
  For a long time, I used to run Facebook lead ads and lead ads are an opportunity, it's
• 15:46
  a lead capture, it's a lead capture mechanism in Facebook, native to Facebook that allows
• 15:54
  the consumer to, well, sometimes they don't even know that they gave you their information,
• 16:01
  but they don't have to leave Facebook.
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  So on a lead ad, in some cases, they could click learn more and they don't even know
• 16:08
  that me as the advertiser just received their name, their email address and their phone
• 16:13
  number that's in their profile when they signed up their profile.
• 16:17
  It doesn't necessarily mean that contact information is good, but I switched to that to a long
• 16:24
  form lead form because I was curious to see if it would impact, how it would impact my
• 16:31
  conversion, right, because we were generating those leads.
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  So when I was doing lead ads, we added two qualifying questions.
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  So I put as many hurdles into the lead ad as we could.
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  So we did ask them, do you have a pre-approval letter and what's your time frame to move?
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  This is on the lead form.
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  Do you want to go to that now?
• 16:49
  Well, that's lead, that's the lead ad form, but I switched the lead ads.
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  So this entire campaign, this entire campaign goes to a landing page.
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  So I'm actually taking them off Facebook.
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  So yeah, you can go.
• 17:03
  So this is a company called lead pops.
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  There are also a lot of San Diego.
• 17:07
  Hey, can I interrupt real quick?
• 17:09
  Yeah.
• 17:09
  Sorry, if I'm killing your flow.
• 17:11
  No, no.
• 17:12
  But I'm curious, because you said you got away from the lead ads on Facebook, which auto
• 17:19
  fills and auto populates a lot of the information.
• 17:22
  Maybe I missed it because I'm running the show here, but was there a specific reason why
• 17:25
  was it quality of leads?
• 17:27
  For instance, you wanted more data upfront, less leads, more quality.
• 17:31
  Yeah, exactly.
• 17:34
  You know, when you're doing these things, it's funny.
• 17:37
  If you've got an ad in your Facebook stream, they're trying to sell you a large quantity
• 17:43
  of leads at a very low cost, I'm trying to earn business out of these leads.
• 17:48
  So I'm not going to, I'm not going to ruin my relationships by bragging about one dollar
• 17:55
  leads that are absolutely no good.
• 17:57
  So I'm always trying to put more hurdles and make it harder for the consumer to make
• 18:02
  it through the gauntlet, so that hopefully, theoretically, on the other side, you're measuring
• 18:10
  their level of motivation is significantly higher than if they accidentally pushed a button
• 18:15
  and you got all their information.
• 18:17
  So that was the reason.
• 18:18
  So we went from collecting five data points to 15 data points and this is called lead
• 18:27
  pups. I don't know if you've had Andrew on here.
• 18:30
  If you haven't, oh, you have.
• 18:32
  Well, yeah.
• 18:33
  Okay.
• 18:34
  No, really smart guy.
• 18:35
  I love intelligent business owners that are always thinking forward on these things.
• 18:40
  So all this is, is this is out of the box.
• 18:43
  I turned on the super footer, which is the whole thing underneath the zip code.
• 18:49
  That improved our conversion.
• 18:51
  That's just default.
• 18:52
  Oh, let's see.
• 18:53
  Right here.
• 18:55
  Yeah.
• 18:56
  So this is the landing page essentially the lead capture form.
• 18:59
  Yeah.
• 19:00
  If you shut this off, it would only be everything above how this works.
• 19:03
  Right.
• 19:04
  You know, it's funny.
• 19:05
  I, because I've been around Leapops for a while as well.
• 19:07
  I don't actually recall ever seeing this.
• 19:09
  That's actually really awesome.
• 19:11
  Well, so what's really cool is that's very, that's animated.
• 19:14
  So the actual computer and the little phone pops in and the chat box pops up and the name
• 19:21
  in there is the actual name of the real estate agent.
• 19:25
  They work for Keller Williams this, so this campaign actually surprised me the most
• 19:29
  because this is in Northern California.
• 19:31
  So this is in a very high cost area.
• 19:34
  And it did really, really well.
• 19:36
  These leads actually did come in under $4 and at the conversion on those were pretty good.
• 19:43
  So we threw a background image.
• 19:45
  That background image I actually took off of the agent's website.
• 19:49
  So that was their hero image.
• 19:51
  I threw that back there and that was it.
• 19:55
  And so that's the form that people are landing on.
• 19:58
  So what they'll do is they enter in their zip code and then it's going to swipe.
• 20:04
  It's going to swipe right, right?
• 20:06
  And it's going to do that 15 times.
• 20:08
  And all of this is mobile optimized as well.
• 20:11
  Absolutely.
• 20:12
  Yeah, you're only going to see all of this.
• 20:14
  If you're on a desktop, if you're on mobile, all you really see is the form.
• 20:18
  Okay, got it.
• 20:20
  Very cool.
• 20:21
  Nice.
• 20:22
  So that's cool.
• 20:23
  So that's a lead capture form from lead pops are good friend Andrew over there who's all about conversion optimization.
• 20:30
  Preach on my brother and these are going to go through some stats quickly.
• 20:34
  Yeah, so this is the next step.
• 20:36
  So that's the lead capture.
• 20:38
  This is lead contact, right?
• 20:40
  So as soon as you capture the lead, you need to contact them.
• 20:43
  So what I did is I started using Versaio.
• 20:46
  They were agentology.
• 20:47
  They were real estate, they were real estate exclusive until last year.
• 20:53
  And then they started, they started doing a mortgage.
• 20:56
  Couple of the cool things that I, that I, I really appreciate about Versa.
• 21:02
  I didn't change any of their scripts.
• 21:04
  So you have the ability to go in there and change the scripts on what kind of conversations
• 21:09
  and what kind of text gets sent out to the consumer.
• 21:12
  I decided to just go out of the box and see if it works.
• 21:15
  So this is, this is a little snapshot.
• 21:18
  So what versus, again, their live people in San Diego 24 seven, this, they, they go here from Zapier.
• 21:28
  So from directly from lead pops, they get zapped directly over to Versaio.
• 21:34
  They also get sent to our CRM and they'll go in a home bot, which I'll show you in a second.
• 21:39
  So this is a little 30 day screenshot.
• 21:43
  We're not running any ads right now.
• 21:45
  But I just checked the last 30 days and this is pretty consistent with what our numbers are.
• 21:50
  They are responding means that they contacted somebody.
• 21:53
  So the lead responded.
• 21:56
  That's 49, 51%.
• 21:58
  That's pretty good and that's pretty normal.
• 22:01
  I find that when I'm doing organic, organic leads off of my website, find my way home.
• 22:08
  Your responding rate is going to be a lot higher on organic.
• 22:12
  But still, this 50% number is pretty, pretty amazing to me.
• 22:17
  Now, here's the really, the one that I really like is the qualified rate.
• 22:21
  Now, qualified for Versaio really only means that they reached the person.
• 22:27
  They verified that they were a real person.
• 22:30
  They know they filled out the form and they're interested in what we're selling.
• 22:33
  It doesn't mean that they actually qualify.
• 22:35
  It just means that it's a live body that we can now talk to.
• 22:39
  So one out of pretty consistently, we're seeing about one out of five leads,
• 22:47
  not responded leads, one out of five leads were getting qualified, 33 into the 163.
• 22:53
  It's a little bit over 20%.
• 22:55
  So that's pretty amazing.
• 22:58
  The other thing that I think is really, really interesting and why I love Versaio
• 23:02
  look at the 49 number that you were circling, those are leads down below underneath.
• 23:08
  Yeah, that's when the lead came in.
• 23:10
  So half of our leads came in after hours.
• 23:14
  And because Versaio is following up on them 24-7,
• 23:17
  so I don't have any screenshots of this, but I just saw this lead.
• 23:21
  So as I was working on this, I'm kind of paying attention to some of these numbers
• 23:25
  a little bit.
• 23:26
  And so we had a lead that came in on the 18th Versaio,
• 23:33
  they came in at 9.45 at night, okay?
• 23:36
  So it came in at 9.45 at night, Versaio got a hold of them.
• 23:40
  They want to buy in the next one to three months.
• 23:42
  They have money down, they have a 7.40 plus credit score,
• 23:45
  and they wanted to get set up on an IDX drip.
• 23:48
  And I'm like, okay, that's fantastic.
• 23:50
  Well, two days ago, they responded to Homebot.
• 23:54
  And now they want to see listings in a specific zip code in Homebot.
• 23:59
  And that lead came in at 9.45 at night, 10 days ago.
• 24:05
  So let's take a pause here, because we got a lot of info flowing,
• 24:09
  and I'm loving it.
• 24:09
  So once again, folks, I don't know how I would say this.
• 24:14
  I would say, look, if you're going to try and really make Facebook ads
• 24:17
  or paid ads work online for yourself,
• 24:19
  this is one of the areas, if you will, of the secret sauce.
• 24:23
  If there is such a thing, and that is,
• 24:25
  you need somebody to be able to respond to these leads in a timely manner.
• 24:30
  And there's various levels based on budget you could do.
• 24:32
  Obviously, texting, you can automate that,
• 24:34
  some CRM, some Zapier integrations.
• 24:37
  Scott, as mentioned, is using verse.io,
• 24:39
  which is live, human, outbound.
• 24:40
  And you're looking, you're seeing kind of the response rates with that.
• 24:43
  We got a question real quick from somebody.
• 24:45
  Let me just throw it up there.
• 24:47
  Can't see who it is.
• 24:48
  Hey, would love you to accept the StreamYard request so we can see your name.
• 24:52
  But I know you talked about per lead.
• 24:54
  Can you speak to, and you don't have to be specific?
• 24:57
  Because, by the way, I'd be curious to know with the lead ad spend.
• 25:01
  Obviously, you're doing this for a variety of different agents.
• 25:03
  Can you talk to that question about spend?
• 25:06
  Yeah, yeah, no, absolutely.
• 25:07
  And I think we actually, we covered this a little bit earlier
• 25:11
  when we were talking about getting the ads to work.
• 25:14
  I typically don't like to run an ad for less if we're going to do it daily.
• 25:18
  I don't like to do it for less than $15 to $20 a day for a minimum of five days.
• 25:24
  But what the ever, well, I call them evergreen ads,
• 25:28
  but it's really the rent versus buy kind of type of ads.
• 25:32
  It's really the first time home buy your ad.
• 25:36
  That's the one that somebody just texted me.
• 25:39
  I'm sorry.
• 25:40
  It lost my trade or thought.
• 25:43
  That one we do about $400 for the 30 days.
• 25:46
  So it still falls into right around that $15 to $20 a day.
• 25:51
  And that's kind of a sweet spot.
• 25:52
  If you can do more up front to get through the learning phase,
• 25:57
  sometimes that's a good idea.
• 25:58
  Then you can pull back your, you can pull back your spend once the the learning phases.
• 26:04
  But you're learning phase.
• 26:06
  How long is that that you're running?
• 26:08
  Well, so Facebook, Facebook, this is a Facebook feature.
• 26:11
  So when you run a new ad, it says learning phase on your ad.
• 26:16
  They want to see about 25 to 50 leads.
• 26:18
  You almost never hit it.
• 26:20
  But if you can push enough traffic and you can get enough engagement,
• 26:24
  it really, all it really is is the longer you can let it run and the more you spend at it.
• 26:31
  It'll learn better over time.
• 26:33
  Is there a time frame that you'll take a look at how an ad is performing
• 26:37
  and make a decision based on some criteria to stop?
• 26:42
  Yeah, no, I'll definitely do that within days.
• 26:44
  So sometimes ads don't work in certain areas.
• 26:48
  Sometimes the targeting is not right.
• 26:51
  Sometimes the pictures aren't good.
• 26:53
  Like if we're doing a single property site, we'll sometimes we'll AB test two, three pictures
• 26:59
  and we'll shut off two of those within, probably within 24 hours.
• 27:05
  So sometimes we will, you'll see pretty immediately and this isn't necessarily leads
• 27:11
  that it's generating.
• 27:12
  Sometimes you're looking at the cost for traffic and how many clicks there are.
• 27:17
  So and that just goes back to your copying creative and deconstructing your conversion.
• 27:24
  All right, let's do this for sake of time because we're getting close to the end of our
• 27:26
  alignment here.
• 27:28
  Let's jump into something you mentioned, which is Homebot.
• 27:30
  Let me bring that back up on the screen and talk about how you're leveraging Homebot in this process.
• 27:35
  So Homebot has always had a buyer side and they're building that out.
• 27:44
  They initially built it for homeowners for past clients, but they built in this buyer side.
• 27:51
  And for the longest time, you couldn't get any data out of it.
• 27:54
  But last week they introduced the buyer dashboard.
• 27:57
  So as part of this process, so what Homebot does is it's a, if it's a homeowner, it's
• 28:03
  a digest that analyzes their equity and how much equity in their interest rate and what
• 28:08
  they could do with it.
• 28:10
  If it's a buyer side, it's really it's a set of data research tools that allows buyers
• 28:16
  to search homes by heat map, time frame, cost per square footage.
• 28:22
  And then they drill down to a specific zip code that they want to buy in.
• 28:26
  And then they're requesting to see listings in that zip code.
• 28:29
  So they didn't have analytics on this until last week.
• 28:33
  And this really surprised me.
• 28:36
  About half of our buyers are opening the buyer digest.
• 28:40
  The engagement isn't great, but I mean, when you think about it, Jeff, if I dumped a
• 28:46
  thousand leads in there, a thousand buyer leads in there, I'm not doing anything with
• 28:50
  these guys.
• 28:52
  That's 600 people are opening, half of the people are opening the email.
• 28:57
  And about 70 to 90 of them are going through and clicking.
• 29:00
  So I'm providing value to almost a hundred people a month that I'm not talking to that
• 29:07
  I don't even see.
• 29:08
  So I thought that was super valuable.
• 29:11
  If you're a mortgage lender and you're putting leads in a home bot, they have a new feature
• 29:17
  that you can put a white label, IDX attached to your home bot when you're running.
• 29:25
  So I can't see my agents numbers.
• 29:28
  So those are my numbers, but what I'm doing is I'm taking all of those buyer leads from
• 29:33
  the Facebook ads and I'm dumping them into the agent's Facebook account or the agent's
• 29:38
  home bot account for them.
• 29:41
  So they don't touch it.
• 29:42
  So I thought those numbers were really, really good.
• 29:46
  And then I think that last slide is that analysis of all of those leads.
• 29:51
  So this was what I ended up posting on Facebook that started a lot of different conversations.
• 29:58
  And the highlights are really where I got excited.
• 30:06
  We were contacting versus contacting half of the leads, one out of five.
• 30:11
  They're able to qualify.
• 30:13
  Our average cost per lead was 637 over those leads.
• 30:19
  This really surprised me as the credit scores.
• 30:22
  I'm on the highlights on the right hand side, 57% had over 660 credit score, 23% had
• 30:28
  over 740.
• 30:29
  Hey, real quick, too.
• 30:30
  You mentioned I heard I was watching you're recording the other day.
• 30:33
  You were surprised at the price range of a particular property.
• 30:41
  Somebody was shopping for, I believe, right?
• 30:42
  Yeah.
• 30:43
  A $9 property or something?
• 30:45
  Yeah, no, that was actually that landing page that I showed you earlier.
• 30:51
  So we were able to, that was a $400 spend.
• 30:56
  We generated, I want to say about 112 leads out of it.
• 31:02
  27% of her leads were over a 740 credit score.
• 31:07
  And over 25% of the leads were looking to buy a home 680,000 in above, 680 to 1.2 million.
• 31:16
  And that shocked me because I didn't think that demographic was clicking ads on Facebook.
• 31:21
  Right?
• 31:22
  I know.
• 31:23
  I've heard that before.
• 31:24
  And here's the thing.
• 31:25
  What people forget is these are just people, right?
• 31:28
  And two billion people are on Facebook.
• 31:31
  So there's some high income earners on Facebook.
• 31:34
  Well, and plus, you know, 1.2 million is a studio flat in San Francisco.
• 31:40
  Right.
• 31:41
  I've in the area for sure.
• 31:42
  We have a, we have a viewer asked me, I'd love to get your take on this.
• 31:47
  How you compare home bot to homescout, are you familiar with homescout?
• 31:52
  Not familiar with homescout.
• 31:53
  Not familiar with them.
• 31:54
  Okay.
• 31:55
  So we'll, we'll table that for later probably, and if you want to get with me on that message
• 31:59
  me in terms of what's the deep differences, a homescout is kind of like your own customized
• 32:04
  home search platform that you team up with agents and you have a co-branded search based
• 32:10
  on.
• 32:11
  That's co-branded.
• 32:12
  Okay.
• 32:13
  Okay.
• 32:14
  Okay.
• 32:15
  Okay.
• 32:16
  Yeah.
• 32:17
  This isn't, this isn't anything that you're really, yeah, home bot is quite a bit different.
• 32:20
  It's definitely not an IDX and it's more consumer direct.
• 32:24
  Yeah.
• 32:25
  For sure.
• 32:26
  And it gets a lot of engagement as we've seen from the numbers.
• 32:28
  All right.
• 32:29
  Let's get some magic here real quick.
• 32:32
  So, so 60, go back to the highlights.
• 32:35
  So we zoomed through there real quick.
• 32:37
  22% had more than 5% down, 14% had more than 10% down.
• 32:43
  That was encouraging 61% have some down payment that need help.
• 32:49
  Those are the people that were, and when on the lead form, there's a drop down box.
• 32:54
  So I have two thoughts about down payment piece on the lead form.
• 33:00
  First of all, you're only getting the down payment that's available in the drop down
• 33:03
  box.
• 33:04
  The second part of that is I suspect that most people want to come in with as little money
• 33:09
  down as absolutely possible.
• 33:11
  So I think that they're, I think that a good percentage of those, I want 3% or down leads
• 33:17
  have more than that.
• 33:18
  And so that's an education process.
• 33:21
  Probably the single most important number here is right there on the bottom right, 93%
• 33:29
  of these leads are not working with a real estate agent.
• 33:31
  Yeah, that's a big, whoo, that's actually one of these.
• 33:38
  Yeah, because that's part of this whole game, right, is how do we attract agents by, you
• 33:46
  know, feeding them with some leads.
• 33:48
  Yeah, yeah, and so here's, if you go to the blue section, the Facebook to lead pops,
• 33:55
  this is kind of where our partnership comes in with the agent.
• 33:59
  So my value proposition is 100% of your spend, Mr agent, Mrs agent goes towards your ads.
• 34:08
  We will build the ads, we'll create the ads, we'll fix the ads, and we're going to pay
• 34:12
  to follow up on them.
• 34:14
  So we cover the cost of verse and you'll see here out of this 300 plus leads, this total
• 34:21
  spend on these numbers was a little bit over 2200 does and we're right around to grant
• 34:26
  on verse.
• 34:28
  So that's about a 5050 and I would argue, I would argue that we are compliant.
• 34:37
  There's no co-branding on any of the ads, so I don't even know that that's necessary.
• 34:42
  The ads are all in their name except for the fact that the sponsored buy is, find my
• 34:46
  way home, my generic home page, yeah, my blog page.
• 34:52
  So yeah, so this was shocking to me, I mean, this was really cool.
• 34:59
  What I learned out of this is that I can feel confident that these tools are doing their
• 35:06
  job.
• 35:07
  I feel like I have them tied together correctly.
• 35:10
  These are all tied together by Zapier and Andrew CRM and now I feel like I don't have
• 35:17
  to spend as much energy on lead quality, I'm going to start focusing on conversion and
• 35:23
  we're getting ready to implement a new CRM so that I have better tracking and better
• 35:28
  follow up.
• 35:30
  And even though we tell the agents that we are sharing these leads with them, quite honestly
• 35:35
  we don't do a lot of follow up on the leads on our side.
• 35:39
  We will do, we do some follow up, but it's not nearly what I want it to be.
• 35:43
  I've spent all of my time filling up the pipeline now at a focus on, but the pipeline
• 35:49
  is filled with good quality opportunities, I'm confident of that now.
• 35:55
  So now it's just a matter of getting them converted.
• 35:57
  Okay, so we have a question and I think we kind of addressed this earlier, so if you've
• 36:02
  shown up late and by the way, somebody's given me a hard time because I'm saying some
• 36:05
  person.
• 36:06
  So it must be somebody I know, just a Facebook user.
• 36:10
  Yeah, exactly.
• 36:11
  I can't see you because you got to allow Streamyard to see your name, which I put that already
• 36:15
  in the comments.
• 36:16
  But anyway, let's get to the question once again, is, is final lead conversion better
• 36:20
  with conversion lead or Facebook lead ads, Mr. Scotcheng, what say you?
• 36:26
  So that's actually a really, really good question and I should have put those numbers
• 36:30
  up there.
• 36:31
  So the, the agent that's up north that we were running Facebook lead ads from, verse
• 36:38
  was contacting about 43% that were responding and 8% were qualified.
• 36:47
  So now convert that to over 50% contact and 22% qualified, I think that the quality
• 36:56
  is significantly better and that's what I call conversion.
• 37:00
  So, so it cost us, there was a, there were almost twice the opportunities when we sent
• 37:09
  them to when we collected 15 data points as opposed to putting them on Facebook lead
• 37:13
  ads.
• 37:14
  And the cost isn't much different.
• 37:16
  So to clarify, do you think the lead increase in qualities because of the conversion optimization
• 37:21
  with the lead pops questions or the verse calling or is it really combo of both?
• 37:27
  I, I think it's the, I think it's the funnel, I think it's the lead funnel, I think it's
• 37:31
  that hurdle of pushing them, making them jump through 15 hurdles in order to get to you.
• 37:37
  And then landing out of landing page, it says, hey, we're following up.
• 37:41
  You're going to get a call from us in a minute.
• 37:43
  I think that's what it is.
• 37:45
  Okay.
• 37:46
  Quite honestly, because I didn't change anything else.
• 37:47
  I didn't change your copy, creative or targeting.
• 37:51
  And by the way, whoever this person is, they're asking this question, what about Pinterest?
• 37:55
  Here's my answer.
• 38:00
  This is not a Pinterest show.
• 38:02
  So the only Pinterest does not allow you to do the things we're talking about here today.
• 38:07
  Okay.
• 38:08
  So yeah, there we go.
• 38:09
  The musk, I don't know who that is, but I'm going to find you, I'm going to find you.
• 38:13
  All right.
• 38:14
  So listen, I've got your digital bread crumbs following you right now, whoever you are,
• 38:21
  Facebook user, randomized.
• 38:23
  All right.
• 38:24
  Cool, man.
• 38:25
  So listen, you've been on lead pops for how long now?
• 38:29
  Well, I've used lead pops for a long time.
• 38:31
  I use lead pops funnels on my way home for years.
• 38:35
  So I've used lead pops for a very long time.
• 38:37
  I started using, and I don't want this to be a commercial, but I do want to,
• 38:42
  I don't want people to know that there are solutions out there.
• 38:45
  Everything that I just said, a lot of ears are bleeding right now.
• 38:48
  They're like, I don't know how to do this.
• 38:51
  Lead pops will actually do this for you.
• 38:53
  So they are connected with a verse, so you can pay per lead with a verse instead of,
• 38:58
  versus pretty expensive.
• 39:00
  You have to commit to a minimum 200 leads a month.
• 39:03
  But lead pops allows you to do it one lead at a time.
• 39:07
  He also has a, he has a really good ad center that are running these ads,
• 39:13
  and they can reproduce this quality, and they're very, very inexpensive.
• 39:19
  So if your lead pops customer reach out to them and check with them on that,
• 39:24
  but I also use them for the website for my brokerage.
• 39:28
  Yeah, for sure.
• 39:29
  I think no matter what, and so I'm just showing the lead pops website here,
• 39:31
  and if Andrew, if you're watching on the replay, whatever shot out to you, my man,
• 39:36
  he's always evolving and innovating and adapting, which is really great.
• 39:41
  But the point is this is you've seen a lot.
• 39:43
  You've had a lot of information come at you.
• 39:44
  Clearly, Scott has invested the time and the money to set this up as a proper system.
• 39:48
  So listen, here's what, what irks me about people who show up in this industry
• 39:53
  with some type of a platform and say go consumer direct.
• 39:58
  Well, that's easier said than done.
• 39:59
  And if you're going to succeed with it, you've got to have the right plan structure
• 40:03
  and various tools in place to actually make that happen,
• 40:07
  or your experience won't be great.
• 40:08
  So I just wanted to add that little qualifier.
• 40:10
  So whether it's lead pops, whether it's verse, whether it's yours, you know,
• 40:13
  you need a CRM, you need the right tools.
• 40:16
  So get them.
• 40:17
  In the system that works as the one that you build and use and monitor,
• 40:20
  you know, those tools are, I don't know if those are the best tools out there,
• 40:25
  but for me, they're best in class and they communicate.
• 40:30
  I like innovative companies.
• 40:31
  I like companies that iterate fast and are like companies that play nice with others.
• 40:36
  And all of those tools interact with Zapier.
• 40:40
  I will not invest in a tool that puts data on an island that I can't access.
• 40:45
  Wow, like that.
• 40:45
  That's a cool phrase, data on an island.
• 40:47
  That should be some companies new tagline.
• 40:51
  Don't leave your data on an island.
• 40:53
  That's right.
• 40:54
  OK, so listen, we are out of time.
• 40:55
  You've been very gracious before we go on a run mind everybody.
• 40:58
  If you haven't yet heard coming soon to a book publisher near you,
• 41:03
  is the brand new book getdisruptordie.com.
• 41:06
  I actually featured Mr. Shang in there.
• 41:09
  Yes, he is featured in there for more details about what he's doing
• 41:13
  with lead capture consumer directing things like that,
• 41:15
  because he's obviously brilliant and spent more time thinking about this
• 41:19
  than I think I want to.
• 41:20
  So that's why I read on him heavily.
• 41:22
  But if you want to get on the pre-advanced list, you go to getdisruptordie.com.
• 41:25
  It's that easy.
• 41:27
  It's got Shang, I can't thank you enough once again for being here, man.
• 41:30
  Thank you, my friend.
• 41:31
  I appreciate it.
• 41:32
  All right, listen, guys, you know what to do.
• 41:33
  If you want to see the show we do every single week,
• 41:36
  make sure you click the little button that says remind Facebook
• 41:39
  if you're watching our YouTube.
• 41:40
  Hey, subscribe, comment, reach out to me.
• 41:43
  We appreciate you being here.
• 41:44
  And we'll see you next week coming back at you with more truth
• 41:47
  in mortgage marketing.
• 41:48
  And I'm going to take you out on this.
• 41:49
  Scott, take care.
• 41:50
  Have a great one.
• 41:51
  Bye for now.
• 41:52
  See you.
• 41:52
  See you.
• 41:59
  Hey, guys, what's up real quick?
• 42:00
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• 42:02
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• 42:05
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